Asia: GHLC Inches to MBS

Slowly but surely, Japan's biggest mortgage originator is gearing up for its debut mortgage-backed deal.

The Government Housing Loan Corp. (GHLC) will issue a request for proposals from securities firms starting in April and select an arranger or lead manager for its inaugural MBS sometime before June, said sources in Tokyo. It will award the mandate based on competitive bidding after soliciting presentations and transaction ideas from major players.

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